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Whither McClatchy, a Once Great Newspaper Company | The Free Press Initiative
The cuts come as the Sacramento-based chain faces pressure from cost-cutting owners and possible breakup or sale.
- More than 90 staffers were laid off across 17 McClatchy publications on Tuesday, including newspapers in Tacoma, Olympia, Bellingham and Tri-Cities. The cuts have sparked speculation about the Sacramento-based company's future.
- Since its 2020 purchase by Chatham Asset Management, the company has merged with other ventures and rebranded itself as an "omni-commerce sales, distribution and logistics, marketing and media company." Journalists have continued important work despite shrinking newsrooms and ownership prioritizing commerce over public service.
- Industry observers suggest the cuts may signal Chatham intends to sell or dismantle the company. Potential buyers include Alden Global Capital, a Wall Street firm owning around 160 papers, or Iowa-based Lee Enterprises, controlled by Florida billionaire David Hoffmann.
- Brown McClatchy Maloney, a descendant of the founder, said the layoffs "pains me in a big way." He suggested transitioning these institutions to local community ownership could be the "ultimate form of community service."
- Communities might look to the Colorado-based National Trust for Local News, which recently acquired two former McClatchy dailies in Georgia. CEO Tom Wiley advocates deploying "patient capital" to preserve these assets as civic institutions.
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Vashon-Maury Island Beachcomber+13 Reposted by 13 other sources
Whither McClatchy, a once great newspaper company | The Free Press Initiative
AI simply can’t replace the nearly 100 reporters being laid off across the country.
·Vashon, United States
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Coverage Details
Total News Sources15
Leaning Left1Leaning Right0Center14Last UpdatedBias Distribution93% Center
Bias Distribution
- 93% of the sources are Center
93% Center
C 93%
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